Stock Market Today: Vehicle, heavy machinery shares fell

Indices ended in losses for the third straight day as selling by domestic investors continued. Selling pressure was seen as investors took profits in auto and heavy machinery shares. As a result, Sensex lost 139 points and Nifty lost 37 points. Brent crude oil price rose 0.97% to trade at $75.30 a barrel. The rupee was unchanged at 84.08 against the dollar. In the Asian markets, Seoul, Shanghai and Hong Kong gained, while the Tokyo index lost. European markets moved mixed.

The Sensex opened the morning on the downside at 79,921.13 points (previous close 80,220.72 points). At one stage it touched a low of 79,891.68 points. The index touched a high of 80,646.31 points, which turned into gains, supported by subsequent buying. Finally, it fell back into losses and lost 138.74 points to settle at 80,081.98 points. The Nifty 50 also closed at 24,435.50 points with a loss of 36.60 points. The index moved at 24,378.10-24,604.25 points intraday.

21 out of 30 shares of the Sensex lost. M&M 3.23%, Sun Pharma 2.57%, Powergrid 1.86%, NTPC 1.74%, Adani Ports 1.68%, L&T 1.56%, Axis Bank 1.30%, ICICI Bank 1.28%, Titan 1.25%, Tata Steel 1.10%, J SW Steel fell by 1.02% and Nestlé India by 1.02%. Bajaj Finance gained 4.95%, Tech Mahindra 2.28%, HCL Tech 1.29%, TCS 1.27%, HDFC Bank 1.26%, Infosys 1.18% and Bajaj Finserv 0.97%. In terms of sector-wise indices, power, heavy machinery, vehicle and utilities sectors have been affected. IT, tech, telecom and financial services sectors have excelled. 2,096 shares closed positive and 1,827 shares closed negative on BSE. 108 shares were unchanged.

Shares of Hyundai Motor India gained 4.19% to close at Rs 1,896.70 on the BSE. At one stage it also increased by 5.91% to Rs.1,928.15. The market value of the company increased by Rs.1,824.15 crore to Rs.1,54,114.67 crore.

Shares of parent company One97 Communications closed up 8.40% at Rs 745 on the BSE after the National Payments Corporation of India (NPCI) gave permission to add new UPI users to Paytm. At one stage it touched the level of Rs.771.25 with a gain of 12.21%. The market value of the company increased by Rs.3,680.36 crore to Rs.47,436.58 crore.

Bajaj Finance shares gained 4.95% to close at Rs 7,007.95 on the BSE as the quarterly results pleased investors. The market value of the company increased by Rs.20,460.93 crore to Rs.4,33,789.53 crore.

Escorts Kubota has revealed that Sona is selling its railway equipment business to Comstar for Rs 1,600 crore.

Maruti Suzuki revealed that the Haryana GST Appeals Authority has upheld the tax demand of Rs.139.3 crore. The company has informed the exchanges that it has paid this tax before the show cause notice on 28 September 2023.